Alliance Wealth Advisors LLC UT Increases Stake in Medpace Holdings, Inc. (NASDAQ:MEDP)

Alliance Wealth Advisors LLC UT lifted its stake in Medpace Holdings, Inc. (NASDAQ:MEDP) by 6.6% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,734 shares of the company’s stock after buying an additional 170 shares during the quarter. Alliance Wealth Advisors LLC UT’s holdings in Medpace were worth $908,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of MEDP. State Street Corp grew its position in shares of Medpace by 7.2% during the third quarter. State Street Corp now owns 752,957 shares of the company’s stock valued at $251,337,000 after purchasing an additional 50,312 shares in the last quarter. Geode Capital Management LLC increased its stake in Medpace by 7.6% in the 3rd quarter. Geode Capital Management LLC now owns 628,054 shares of the company’s stock worth $209,885,000 after acquiring an additional 44,371 shares during the last quarter. Wellington Management Group LLP raised its holdings in shares of Medpace by 36.0% during the 3rd quarter. Wellington Management Group LLP now owns 415,255 shares of the company’s stock worth $138,612,000 after acquiring an additional 109,886 shares in the last quarter. American Capital Management Inc. boosted its position in shares of Medpace by 2.6% during the 3rd quarter. American Capital Management Inc. now owns 380,646 shares of the company’s stock valued at $127,060,000 after acquiring an additional 9,592 shares during the last quarter. Finally, FMR LLC grew its holdings in shares of Medpace by 11.8% in the third quarter. FMR LLC now owns 231,019 shares of the company’s stock valued at $77,114,000 after purchasing an additional 24,362 shares in the last quarter. Institutional investors own 77.98% of the company’s stock.

Medpace Stock Performance

NASDAQ MEDP opened at $343.38 on Tuesday. Medpace Holdings, Inc. has a fifty-two week low of $291.15 and a fifty-two week high of $459.77. The firm has a market capitalization of $10.67 billion, a P/E ratio of 30.07, a price-to-earnings-growth ratio of 1.79 and a beta of 1.36. The stock’s fifty day moving average is $342.50 and its two-hundred day moving average is $351.36.

Analyst Upgrades and Downgrades

MEDP has been the subject of several analyst reports. Truist Financial lowered their price objective on Medpace from $415.00 to $397.00 and set a “hold” rating for the company in a research note on Monday, October 14th. Redburn Atlantic initiated coverage on shares of Medpace in a research report on Monday, October 14th. They set a “buy” rating and a $404.00 price objective on the stock. TD Cowen reduced their target price on shares of Medpace from $413.00 to $372.00 and set a “buy” rating on the stock in a research note on Wednesday, October 23rd. Baird R W cut shares of Medpace from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 23rd. Finally, William Blair reissued an “outperform” rating on shares of Medpace in a research note on Tuesday, October 22nd. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Medpace presently has a consensus rating of “Hold” and an average target price of $381.44.

Medpace Company Profile

Medpace Holdings, Inc engages in the provision of outsourced clinical development services to the biotechnology, pharmaceutical and medical device industries. Its services include medical department, clinical trial management, data-driven feasibility, study-start-up, clinical monitoring, regulatory affairs, patient recruitment and retention, medical writing, biometrics and data sciences, pharmacovigilance, core laboratory, laboratories, clinics, and quality assurance.